Credit Suisse Group has agreed to sell its international IT services company Citymax to EDS for an undisclosed sum.
Citymax has 300 staff and offices in London, Cairo and New York, providing IT project work and services principally to the financial community. Turnover for 1996 was in the region of #20 million.
UK customers include many of the high street banks and City institutions, and the company also does around 40 per cent of the Bank of England?s Crest implementations.
According to Credit Suisse First Boston, part of the Credit Suisse Group and owner of Citymax, the sale is part of the global restructuring being undertaken by the Group.
Citymax will continue to provide IT services to the Group, the purchase giving EDS instant access to a significant amount of business across Credit Suisse?s international locations.
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